Where Alpha Goes to Die & the CoreWeave Canary
This week, we dive into why the smartest guys in the room keep bellyflopping when it comes to CRE. Two Sigma’s recent retreat is part of a long line of edgy hedgies who’ve been humbled at the brick-and-mortar altar. We then head to the scene of a fast-moving car crash in the world’s hottest asset class: Yields on CoreWeave's junk bonds surged to an alarm-ringing 15% this week, and institutional players from across the CRE universe who've gone all-in on data centers are watching closely. Plus, our Punch List rundown of the newsiest industry happenings: Cain's "Founder Bonds" at One Beverly…
The skinny
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